Interface, Inc. Plans Quarterly Dividend of $0.02 (NASDAQ:TILE)

Interface, Inc. (NASDAQ:TILE) announced a quarterly dividend on Tuesday, November 11th. Stockholders of record on Friday, November 28th will be paid a dividend of 0.02 per share by the textile maker on Friday, December 12th. This represents a c) annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, November 28th.

Interface has decreased its dividend payment by an average of 0.3%annually over the last three years. Interface has a payout ratio of 4.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Interface to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 5.2%.

Interface Stock Performance

Shares of Interface stock traded up $0.35 on Wednesday, reaching $26.68. 453,552 shares of the stock were exchanged, compared to its average volume of 455,439. The firm has a market capitalization of $1.56 billion, a PE ratio of 16.47, a PEG ratio of 1.04 and a beta of 2.07. Interface has a 1-year low of $17.24 and a 1-year high of $30.20. The business has a fifty day moving average price of $27.61 and a two-hundred day moving average price of $23.96. The company has a current ratio of 2.88, a quick ratio of 1.59 and a debt-to-equity ratio of 0.53.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Friday, October 31st. The textile maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.15. Interface had a return on equity of 18.97% and a net margin of 7.08%.The company had revenue of $364.53 million for the quarter, compared to analyst estimates of $358.19 million. During the same quarter in the previous year, the company earned $0.48 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. Interface has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Interface will post 1.37 earnings per share for the current fiscal year.

Insider Transactions at Interface

In related news, CFO Bruce Andrew Hausmann sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $26.95, for a total value of $673,750.00. Following the transaction, the chief financial officer owned 145,403 shares in the company, valued at approximately $3,918,610.85. This trade represents a 14.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP James Poppens sold 5,000 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $26.14, for a total transaction of $130,700.00. Following the completion of the sale, the vice president directly owned 124,616 shares of the company’s stock, valued at $3,257,462.24. The trade was a 3.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Interface

Several institutional investors and hedge funds have recently modified their holdings of TILE. IFP Advisors Inc grew its holdings in Interface by 2,695.2% during the 2nd quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 1,132 shares in the last quarter. TD Private Client Wealth LLC acquired a new stake in shares of Interface during the third quarter valued at about $32,000. Blue Trust Inc. purchased a new stake in shares of Interface during the third quarter worth about $34,000. EverSource Wealth Advisors LLC acquired a new position in shares of Interface in the second quarter worth about $35,000. Finally, Richardson Financial Services Inc. lifted its stake in shares of Interface by 166.4% in the third quarter. Richardson Financial Services Inc. now owns 1,569 shares of the textile maker’s stock worth $45,000 after acquiring an additional 980 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

About Interface

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.